IRDA Introduced Annual Fee Requirement for SLAs Due to Section 42D Amendment

The circular clarifies transitional arrangements for Insurance Surveyors and Loss Assessors (SLAs) following amendments introduced by the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025. It replaces the earlier licensing framework, which required renewal every three years, with a registration-based regime effective from 5 February 2026. Under the revised system, SLAs will receive a Certificate of Registration (CoR), valid subject to payment of an annual fee. As a transitional measure, applications approved between 5 February and 30 June 2026 must pay an interim annual fee before CoR issuance, with prescribed rates for individuals and corporates, inclusive of GST. Fees already paid will be adjusted against the interim requirement. Applications for revival of lapsed licenses submitted before 5 February 2026 will follow earlier regulations, while those submitted after will be treated as fresh registrations. All applications must continue through the BAP portal until further regulatory updates are notified.

Insurance Regulatory and Development Authority of India

Circular No.: IRDAI/INT/CIR/MISC/54/4/2026 | Dated: 07 April, 2026

Subject: Clarification on transitional arrangements for payment of Annual Fee  and issuance of Certificate of Registration pursuant to the Sabka Bima Sabki  Raksha (Amendment of Insurance Laws) Act, 2025 (SBSR Act) – Applicability to Surveyors and Loss Assessors

In continuation of Circular Ref. IRDAI/INT/CIR/MISC/41/3/2026 dated 16th March 2026 on transitional arrangements of payment of annual fee and issuance of Certificate of Registration (CoR) for intermediaries, the following clarifications are issued with respect to Surveyors and Loss Assessors (SLAs).

1. Applicability

1.1 This Circular shall apply to all Insurance Surveyors and Loss Assessors (SLAs).

2. Background

2.1 The SBSR Act has, inter alia, amended Section 42D of the Insurance Act, 1938 to provide that the registration granted to an insurance intermediary shall remain in force, subject to payment of such annual fee as may be specified by regulations, unless such registration is suspended or cancelled by the Authority.

2.2 Considering the distinct operational and fee framework applicable to SLAs, these clarifications are issued to facilitate smooth transition to the revised regime.

3. Substitution of Licensing Framework with Registration framework

3.1 With effect from 5^th February 2026, the earlier framework providing for licensing to act as SLA with a three-year validity period and renewal requirements, stands substituted with a registration-based framework.

3.2 Accordingly, SLAs shall be issued a Certificate of Registration(CoR), and such registration shall be subject to payment of annual fee in accordance with the amended provisions of Section 42D of the Insurance Act, 1938 and the regulations to be notified thereunder. The issued CoR shall be made available for download through the BAP portal.

4. Interim Annual Fee – Transitional Arrangement

4.1 As a transitional measure, applicants whose applications for new registration or renewal are approved during the period from 5^th February, 2026 to 30^th June, 2026, shall pay an interim annual fee prior to issuance of the Certificate of Registration (CoR) as follows:

4.2 Adjustment of fees for applications approved on or after 5^th February 2026:

In respect of applications (including new or renewal) approved on or after 5^th February, 2026, where any fee has already been remitted, such fee shall be taken into account and adjusted, to the extent applicable, against the interim annual fee payable. Any balance amount, if applicable, shall be dealt with in accordance with the Regulations to be notified.

5. Treatment of applications under lapsed category

5.1 Applications for revival of lapsed licenses submitted on or before 04^th February, 2026 shall be dealt with in accordance with the provisions of IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015.

5.2 Applications for revival of lapsed licenses submitted on or after 05^th February, 2026 shall be considered for issue of new registrations (including the requirement of examinations and training).

6. Operational Continuity

The requirement to submit applications through BAP portal for all categories of applications, including new, renewal, modification or related requests, for the purpose of obtaining registration and CoR, shall continue until further instructions.

This arrangement is interim and transitional in nature, pending notification of the regulations to be issued under the amended framework.

This clarification circular is issued with the approval of the Competent Authority.

Sd./-
(Sudipta Bhattacharya)
( Chief General Manager)
Intermediaries Dept. (SLA and IR)